ECB's Rehn: war energy shock has not caused second-round inflation effects

• —Eurozone inflation rose from 2.9% in July to 3.3% in August
• —Oil trades above $90 a barrel, up about 25% since the conflict began
• —The market prices a possible ECB rate hike to 2.5% at the September 10 meeting
• —The Strait of Hormuz handles about 20% of global oil and LNG exports